Funded

Lani

Clinton Street Theater LLC

A loan of $25,000 helped make the improvements to a local community theater of over a 100 years, so it can continue to provide a unique space for films, live theater and music in Portland.

Lani's story

I grew up in Moore, Oklahoma, the oldest in a family of five children. My dad was a lifer in the Air Force and my mom took in laundry and worked various odd jobs to make ends meet. I was the first in my family to graduate from college.

Today, I live in Portland, OR with my husband of 29 years and our rescue dog, Buster. In the late 1990's, when Roger and I lived in New York, we owned and operated a successful computer software company that specialized in information management of employee benefits and human resources. We started with nothing but an unwavering belief in our product. We sold the company in 1999, after being in business for less than two years. At this time we had over $3 million in annual sales and a team of 50 full time employees and contractors.

We decided to take one year off, and during that time we knew we wanted a life different from the one we were leading in the corporate world. We moved to Portland in 2001, lived off our savings, spent time with our first grandson, travelled in Europe and Central America, and I volunteered with hospice. I also went to film school and wrote and directed three feature length documentaries and numerous shorts.

Seeing a film through post-production to completion requires far more hours and stick-with-it-ness than I ever thought possible, and as the owner/operator and wearer of almost all hats at the Clinton Street Theater, I count on that tenacious spirit to get things done.

Most of my dreams these days center around the Clinton Street Theater. We've come so far in only five years, and I can't wait to see how our independent spirit and support for the arts evolves over the next five.

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This loan is special because:

It supports a mission-driven community space in Portland, Oregon.

More about this loan

Business Description

The Clinton Street Theater has been a neighborhood fixture in southeast Portland for more than 100 years, making it the oldest continuously operating movie theater in the northwest and one of the longest running theaters in the country.

When the opportunity to buy the Clinton Street Theater came along in 2012 (through Craigslist of all places), I jumped at the chance. Although the theater had been mismanaged for years and its reputation in the community was shot, I could envision a warm and welcoming space that supported community-building through the power of independent film and live events.

Under our ownership, CST is a mission-driven endeavor; to this end, we focus on truly independent film that is not screened elsewhere, champion a wide variety of live events from music to modern dance, and support the use of the theater as a community space for nonprofits and local artists. With so many competing choices for entertainment and with movies easily accessible on TV and computers, our biggest challenge is fostering the belief that movies are best seen in a theater with community. Our customers come from the Portland metro area and beyond--some even as far away as Bellingham and Walla Walla, WA.

Last year we hosted our own film festival; and attendance keeps growing at all events. I'm proud of the fact that during my tenure the theater has been able to pay its own bills, while at the same time investing in new equipment and a screen. Also in the past year alone, we championed more than 40 nonprofits and helped raise more than $20,000 for their causes.

What is the purpose of this loan?

This loan will assure that we keep the lights on and continue to provide our community with a unique space for films, live theater and music. It will allow us to install and maintain a 35mm changeover projector at a cost of $3,000 (this means more 35mm screenings and wider access to programming selection!). We need accessibility renovations (remodeling ancient bathrooms for ADA compliance), which will cost approximately $5,000. In addition, we want to make cosmetic repairs and restorations ( new auditorium doors to better insulate lobby noise, restore original historic design elements, fix or replace squeaky floorboards, retrofit the marquee with an energy-efficient LED system). Any repairs we make enhance the theater-going experience. With a more comfortable and attractive space, we will be able to charge more for rentals, gain a wider base of loyal, returning customers, and expand the ways in which the theater can be used. All of this will increase our overall revenue.

Loan length/repayment term

The loan length or repayment term is the number of months it takes from the point that the loan is disbursed to the borrower to the point when the last repayment is due to be paid to Kiva lenders.

Repayment schedule

A loan's repayment schedule describes the frequency with which repayments are sent to Kiva lenders:

Monthly: One repayment made per monthEnd of term: One repayment made at the end of the loan termIrregular: Any other repayment schedule

To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."

What is the disbursed date?

The disbursed date indicates the date that the borrower receives their loan funds. Loan disbursal for loans on Kiva can happen anywhere from 30 days before to 90 days after the loan is posted on the Kiva website. Direct loans are always post-disbursed, and will be done only after the loan has fully fundraised on Kiva.

In the case of partner loans, many of Kiva's Field Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Field Partners assume the risk that, if the loan isn't funded by Kiva lenders, the Field Partner has to fund the loan without any funds from Kiva lenders.

If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Field Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.

What is currency exchange loss and how could it affect my Kiva loans?

When lending internationally, the local currency in a borrower's country may lose some of its value compared to the US dollar -- requiring the partner to use more of its local currency to reimburse Kiva in USD. We offer Field Partners the option to protect themselves against severe currency fluctuations (a USD appreciation of over 10% relative to their local currency) by sharing any losses greater than 10% with Kiva lenders. By bearing these losses, lenders protect the partner and its borrowers from catastrophic currency devaluations.

Potential for currency exchange loss is noted on every loan profile under the loan details:

"Covered" means the Field Partner has opted to cover any currency loss. Lenders will not bear losses due to currency fluctuation.

"Possible" means the Field Partner has opted not to cover these losses, and lenders face additional risk because they will bear losses greater than 10%.

"N/A" means the Field Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.

Do Kiva borrowers pay any interest on their loans?

Yes, most Kiva borrowers do pay interest to our Field Partners in some form. Kiva and Kiva lenders themselves do not receive interest on these loans.

Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Field Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.

Kiva will not partner with an organization that charges unreasonable interest rates, and we require Field Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.

There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.

What is a risk rating?

There are many levels of risk associated with Kiva loans, which are explained on our website here: kiva.org/about/risk

The Field Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Field Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Field Partner section of every loan. Field Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Field Partner?"

Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.

How are loans facilitated?

Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.

For partner loans, borrowers apply to a local Field Partner, which manages the loan on the ground. Field Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.

For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Field Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.

More information about successive and concurrent loans

Field Partners often work with borrowers over time to help them build credit and expand their businesses. In order to make it easier for partners to post loans for borrowers who have been listed on Kiva before, we allow some partners the ability to relist a loan without having to re-enter all of the borrower's information. When this occurs, you'll see an updated loan description, as well as excerpts of the original descriptions from an earlier loan.

Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.

About Clinton Street Theater LLC

Industry: Services
Years in operation: More than 5 years
Website: cstpdx.com

Trustee type

This is the type of organization that the Trustee is.

What are Trustee tiers?

Trustee tiers determine the number of endorsements a Trustee can make and what loan sizes they can endorse. All Trustees begin as a pilot and can advance in tier depending on their borrowers' repayment performance.
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers

Trustee location

This is the location where the Trustee is based.

Trustee's time on Kiva

Time on Kiva shows the number of months a Trustee has been endorsing loans on Kiva for funding.

Kiva borrowers (direct loans)

This figure represents the total number of loans endorsed by this Trustee that have fundraised on Kiva.

Trustee's total loans

This figure includes the total amount of loans that this Trustee has endorsed. This excludes refunded loans.

Fundraising / raised

This figure represents the number of loans endorsed by this Trustee that are currently fundraising or fully funded.

Paying back on time

This figure represents the number of loans endorsed by this Trustee that are currently paying back on their repayment schedule.

Trustee's loans paying back late

This figure represents the number of loans endorsed by this Trustee that are currently paying back behind their repayment schedule.

Repaid in full

This figure represents the number of loans endorsed by this Trustee that have completed all repayments.

Trustee loans defaulted

This figure represents the number of loans endorsed by this Trustee that have ended in default.

Trustee repayment rate

This figure is the total amount of money currently collected by borrowers endorsed by this Trustee, divided by the total amount of money currently due from borrowers. This excludes payments made ahead of schedule.

Why are you endorsing Lani?

I have known Lani Jo for many years. She is a prominent figure in Portland. Always promoting & supporting civic causes and indepentent film makers to bring important social & political issues to the forefront, to give voice to the underserved, to the unheard. Championing community support, she donates the theatre space for important events. In the forefront of making things happen. Very articulate, with good business acumen. And a very big heart.

Loan length/repayment term

The loan length or repayment term is the number of months it takes from the point that the loan is disbursed to the borrower to the point when the last repayment is due to be paid to Kiva lenders.

Repayment schedule

A loan's repayment schedule describes the frequency with which repayments are sent to Kiva lenders:

Monthly: One repayment made per monthEnd of term: One repayment made at the end of the loan termIrregular: Any other repayment schedule

To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."

What is the disbursed date?

The disbursed date indicates the date that the borrower receives their loan funds. Loan disbursal for loans on Kiva can happen anywhere from 30 days before to 90 days after the loan is posted on the Kiva website. Direct loans are always post-disbursed, and will be done only after the loan has fully fundraised on Kiva.

In the case of partner loans, many of Kiva's Field Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Field Partners assume the risk that, if the loan isn't funded by Kiva lenders, the Field Partner has to fund the loan without any funds from Kiva lenders.

If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Field Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.

What is currency exchange loss and how could it affect my Kiva loans?

When lending internationally, the local currency in a borrower's country may lose some of its value compared to the US dollar -- requiring the partner to use more of its local currency to reimburse Kiva in USD. We offer Field Partners the option to protect themselves against severe currency fluctuations (a USD appreciation of over 10% relative to their local currency) by sharing any losses greater than 10% with Kiva lenders. By bearing these losses, lenders protect the partner and its borrowers from catastrophic currency devaluations.

Potential for currency exchange loss is noted on every loan profile under the loan details:

"Covered" means the Field Partner has opted to cover any currency loss. Lenders will not bear losses due to currency fluctuation.

"Possible" means the Field Partner has opted not to cover these losses, and lenders face additional risk because they will bear losses greater than 10%.

"N/A" means the Field Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.

Do Kiva borrowers pay any interest on their loans?

Yes, most Kiva borrowers do pay interest to our Field Partners in some form. Kiva and Kiva lenders themselves do not receive interest on these loans.

Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Field Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.

Kiva will not partner with an organization that charges unreasonable interest rates, and we require Field Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.

There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.

What is a risk rating?

There are many levels of risk associated with Kiva loans, which are explained on our website here: kiva.org/about/risk

The Field Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Field Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Field Partner section of every loan. Field Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Field Partner?"

Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.

How are loans facilitated?

Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.

For partner loans, borrowers apply to a local Field Partner, which manages the loan on the ground. Field Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.

For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Field Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.

More information about successive and concurrent loans

Field Partners often work with borrowers over time to help them build credit and expand their businesses. In order to make it easier for partners to post loans for borrowers who have been listed on Kiva before, we allow some partners the ability to relist a loan without having to re-enter all of the borrower's information. When this occurs, you'll see an updated loan description, as well as excerpts of the original descriptions from an earlier loan.

Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.

Trustee type

This is the type of organization that the Trustee is.

What are Trustee tiers?

Trustee tiers determine the number of endorsements a Trustee can make and what loan sizes they can endorse. All Trustees begin as a pilot and can advance in tier depending on their borrowers' repayment performance.
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers

Trustee location

This is the location where the Trustee is based.

Trustee's time on Kiva

Time on Kiva shows the number of months a Trustee has been endorsing loans on Kiva for funding.

Kiva borrowers (direct loans)

This figure represents the total number of loans endorsed by this Trustee that have fundraised on Kiva.

Trustee's total loans

This figure includes the total amount of loans that this Trustee has endorsed. This excludes refunded loans.

Fundraising / raised

This figure represents the number of loans endorsed by this Trustee that are currently fundraising or fully funded.

Paying back on time

This figure represents the number of loans endorsed by this Trustee that are currently paying back on their repayment schedule.

Trustee's loans paying back late

This figure represents the number of loans endorsed by this Trustee that are currently paying back behind their repayment schedule.

Repaid in full

This figure represents the number of loans endorsed by this Trustee that have completed all repayments.

Trustee loans defaulted

This figure represents the number of loans endorsed by this Trustee that have ended in default.

Trustee repayment rate

This figure is the total amount of money currently collected by borrowers endorsed by this Trustee, divided by the total amount of money currently due from borrowers. This excludes payments made ahead of schedule.

Why are you endorsing Lani?

I have known Lani Jo for many years. She is a prominent figure in Portland. Always promoting & supporting civic causes and indepentent film makers to bring important social & political issues to the forefront, to give voice to the underserved, to the unheard. Championing community support, she donates the theatre space for important events. In the forefront of making things happen. Very articulate, with good business acumen. And a very big heart.

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